Known as the Uniform Commercial Code
The act spans §§ 71–71 (28 sections).
Applied in 14 court decisions — leading case Community Bank v. Jones (1977)
Most recently applied in Peace River Seed Co-Operative, Ltd. v. Proseeds Marketing, Inc. (March 2014)
1961 c.726 §71.2050; 2009 c.181 §12
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
(1) Whether a time for taking an action required by the Uniform Commercial Code is reasonable depends on the nature, purpose and circumstances of the action.
(2) An action is taken seasonably if it is taken at or within the time agreed or, if no time is agreed, at or within a reasonable time.
Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.